The Registrar shall not enter in the Register Book notice of any trust whether express, implied or constructive; but trusts may be declared by any document, and a duplicate or an attested copy of the document may be deposited with the Registrar for safe custody and reference; and the Registrar, should it appear to him or her expedient to do so, may protect in any way he or she deems advisable the rights of the persons for the time being beneficially interested thereunder or thereby required to give any consent; but the rights incident to any proprietorship or any instrument dealing or matter registered under this Act shall not be affected in any manner by the deposit of the duplicate or copy nor shall the duplicate or copy be registered.